Refining Card Portfolio

[sccredit]

I have decided to look at my wife and my credit portfolio and trim it down/refine it.

Our current cards are as follows:

Mine

Cap 1 Spark Miles                             $12,500

Discover it                                           $10,000

DCU                                                       $10,000

Citi TY                                                    $9,200

Citi Home Depot                               $8,800

GECRB Care Credit                           $7,800

Comenity Smile Gen                       $7,500

GECRB Lowes                                    $5,000

USAA Mastercard                            $4,000

USAA Amex                                       $4,000

Chase Freedom                                $3,700

Amex Biz Green                                  NPSL

DW:

Chase Sapphire Preferred            $10,000

Chase SW RR Siggy                          $10,500

Citi Hilton Hhonors                          $7,000

I am thinking of doing this:

Mine

Cap 1 Spark Miles                             Keep

Discover it                                           Keep for quarterly categories

DCU                                                     Close

Citi TY                                                  Keep – 0%

Citi Home Depot                               Keep for home projects

GECRB Care Credit                         Close

Comenity Smile Gen                       Close

GECRB Lowes                                 Keep for home projects

USAA Mastercard                             Close

USAA Amex                                       Close

Chase Freedom                               Keep for quarterly

Amex Biz Green                                 Close (AF)

DW:

Chase Sapphire Preferred            Keep – Primary Spend card

Chase SW RR Siggy                      Close, transfer to CSP   

Citi Hilton Hhonors                          Close or PC

I am thinking about adding BCP and/or Costco.  I don’t want to keep anything open unless it serves a purpose.  Not worried about utilization, rarely do I carry a balance on anything (right now HD is carrying my $2k fridge).  Any other suggestions/ideas?   Thanks all!

[09Lexie]

IMO, go with the BCP unless you shop a lot at Costco. DCU, has no AF and I'm sure your rate is the lowest 8.5%, I'd just sd that one. Agree with USAA - do you care that you don't have a MC?

Agree with your wife's changes, PC the HiltonHonors.

[sccredit]

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@09Lexie wrote:
IMO, go with the BCP unless you shop a lot at Costco. DCU, has no AF and I'm sure your rate is the lowest 8.5%, I'd just sd that one. Agree with USAA - do you care that you don't have a MC?

Agree with your wife's changes, PC the HiltonHonors.

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Agreed on the DCU point.  I could care less about having a Mastercard.

[09Lexie]

Sounds like a solid plan to me!

[takeshi74]

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@sccredit wrote:

Any other suggestions/ideas?

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On any topic always provide your needs/wants/preferences/priorities/goals if you want recommendations.  Give us something to work with.